Brokerages Set Chevron Co. (NYSE:CVX) Price Target at $174.13

Shares of Chevron Co. (NYSE:CVX) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $174.13.

A number of analysts recently issued reports on the company. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. UBS Group lowered their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $29,000. Rational Advisors LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the 4th quarter worth approximately $29,000. Finally, 10Elms LLP bought a new stake in Chevron in the 4th quarter valued at $29,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.9 %

Shares of NYSE CVX opened at $154.99 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron has a twelve month low of $135.37 and a twelve month high of $167.11. The company’s fifty day moving average is $152.52 and its 200-day moving average is $151.31. The stock has a market cap of $278.53 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the firm earned $3.45 earnings per share. Equities research analysts predict that Chevron will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.41%. Chevron’s payout ratio is 70.37%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.